Monday, March 12, 2018

Cramer: Larry Kudlow is Leading Contender to Replace Gary Cohn as Trump's Top Economic Advisor

Larry Kudlow is the leading contender to head President Donald Trump's National Economic Council and would take the job if offered it, CNBC's Jim Cramer is reporting.

Kudlow would be much better than the economic ignoramusChristopher Liddell but as Cramer reports in the above clip, the supposed free-trader Kudlow is slipping on his advocacy of free trade when it comes to China.

Larry knows better. This is Larry seeing the economic advisor position dangling in front of him. What else will he weaken on if he gets the position?

Often there are "free market" economists until they get close to power. It reminds me of Alan Greenspan. And who can forget Herbert Stein supporting Nixon's price controls when he was in the Nixon Administration.

He knew that price controls would only mess up the economy, but in his book, Presidential Economics, he attempted to justify his support for price controls when he wrotehe was caught up in the "excitement" of the moment:

I had spent much of my career arguing against wage and price controls, even in World War II. And here I was, economic adviser to the President ...I was an active participant in the most exciting event in the record of economic policy...